Weekend Wall Street #33- The Best Trades, Top AI picks, and Futures Plans for 3/6-3/11
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Good evening traders. Last week, SPY closed an overall +2% for the week and ended a three week losing streak. Economic data reports recently have been very strong and this has been scaring traders into the idea that the Fed will raise interest rates.
The bulls entered the market on Thursday when a Fed speaker hinted that rate hiking could be halted as early as this Summer.
Last week, we saw some huge movements in AI (artificial intelligence) stocks. Specifically, the poster-boy AI stock, $AI which had a massive +35% day after earnings and investment firm Wedbush upgraded the stock, citing it’s improving financial conditions and increased demand for it’s products.
In fact, venture capitalists are going in on AI companies at a record pace:
The question we should ask now is: are AI stocks worth the hype?